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Time Series For this activity, select a recurring quantity from your own life for which you...

Time Series For this activity, select a recurring quantity from your own life for which you have monthly records at least 2 years. This might be the cost of a utility bill, the number of cell phone minutes used, or even your income. If you do not have access to such records, use the internet to find similar data, such as average monthly housing prices, rent prices in your area for at least 2 years. Data can also be monthly sales of some particular commodity. 1. Which methods in our Chapter TIME SERIES might apply to your data? Does there appear to be a seasonal component affecting the data? If so, can you explain the seasonal effect in simple terms? 2. Use methods you learned to predict the value of your quantity for the next year. Be prepared to defend your choice if methods.

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